StatRad, a medical image management technology company, has announced a $13 million equity investment from a strategic institutional partner.

The funding will be used to accelerate development of technology to rapidly and securely ingest, view, share and store medical images in the cloud. Additionally, the investment will support the company’s 25 percent growth in teleradiology services and its RadConnect cloud-based image sharing solution.

“Healthcare providers need rapid access to medical images regardless of their location or the device they use, and we have a novel approach to making that happen. We’re using our exciting new streaming technology while incorporating what we’ve learned from 20 years of providing world-class teleradiology services. Our imaging platform is built with speed, scalability and security as its critical ingredients,” said StatRad Chief Executive Officer Vishal Verma, M.D.

The company’s radiology services can be used for after-hours coverage, which can help lower costs and improve patient care. Through its web-based RadConnect software, the company offers a secure, convenient and cost-effective way for referring physicians, hospitals, patients and entire health systems to share radiology images and reports.

Use of StatRad’s technology extends beyond radiology. The platform can assist a multitude of healthcare companies, such as image analysis and medical device businesses, with the ability to efficiently incorporate medical images into their software solutions.